Peregrine Systems Inc says it has signed a letter of intent to acquire privately-held Prototype Inc of Novato, California. Financial terms of the deal were not disclosed. Prototype provides application software for managing fleets of cars, trucks, and other transportation assets within large organizations. The deal bolsters Peregrine’s offerings in its self-styled infrastructure resource planning (IRP) market – its suite of software used to track the physical and fiscal life span of a company’s infrastructure and assets. The transaction is expected to close prior to March 31, 1999 and will be accounted for as a purchase, with the company expecting to take an unspecified charge for acquired in-process research and development. Prototype was founded in 1976 and boasts a client list that includes the US Army, the California Department of Transportation, the City of Atlanta, American Airlines and US Airways.
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